Mobileye Global (NASDAQ:MBLY) Shares Gap Up - Here's Why

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $15.67, but opened at $16.48. Mobileye Global shares last traded at $16.88, with a volume of 1,632,225 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Mobileye Global from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Loop Capital upped their price target on shares of Mobileye Global from $20.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Royal Bank of Canada restated a "sector perform" rating and issued a $11.00 price target on shares of Mobileye Global in a research report on Thursday, December 5th. Mizuho upped their price objective on shares of Mobileye Global from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Finally, UBS Group cut shares of Mobileye Global from a "buy" rating to a "neutral" rating and dropped their target price for the company from $20.00 to $14.00 in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $23.45.

Mobileye Global Price Performance

The stock's 50-day moving average is $17.79 and its two-hundred day moving average is $16.93. The stock has a market cap of $13.08 billion, a P/E ratio of -4.42 and a beta of 0.30.

Hedge Funds Weigh In On Mobileye Global

A number of large investors have recently made changes to their positions in MBLY. Rakuten Securities Inc. raised its position in Mobileye Global by 140.2% during the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company's stock valued at $25,000 after purchasing an additional 1,061 shares in the last quarter. Versant Capital Management Inc increased its position in Mobileye Global by 580.0% during the 4th quarter. Versant Capital Management Inc now owns 1,326 shares of the company's stock valued at $26,000 after buying an additional 1,131 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Mobileye Global in the 4th quarter valued at approximately $30,000. Quarry LP acquired a new stake in shares of Mobileye Global during the third quarter worth $31,000. Finally, Cranbrook Wealth Management LLC purchased a new stake in Mobileye Global during the 2nd quarter valued at about $84,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.